By Marlene Y. Satter
Prudential Retirement has been chosen by three firms to serve as recordkeeper
for their defined contribution plans.
The three plan sponsors are CCC Group, AccentCare, Inc., and LJT & Associates, Inc.; combined, the three have plan assets of $66 million and more than 18,000 retirement plan participants.
CCC Group is a heavy industrial construction company in San Antonio, Texas. It has 1,000 active and deferred participants in its DC plan, with $29 million in assets, and is Prudential’s newest recordkeeping client, transitioning in early January. CCC Group provides multidisciplined construction and specialty engineering services to a variety of markets in the U.S. and in some international locations.
AccentCare, a provider of post-acute home care, has 17,000 participants in its DC plan
with $27 million in assets; it transitioned to Prudential on December 1. AccentCare provides services ranging from personal nonmedical care to skilled nursing, rehabilitation, hospice and care management, as well as comprehensive care for individuals with a wide variety of care needs including complex chronic conditions.
LJT & Associates, Inc. has 200 participants with $10 million in assets. An aerospace company that was established in 1994, LJT provides systems engineering services to a variety of customers such as the National Aeronautics and Space Administration, the U.S. Air Force, the U.S. Navy, the Defense Information Systems Agency, the Internal Revenue Service, the National Oceanic and Atmospheric Association and the National Science Foundation.
Prudential Retirement has $368.9 billion in retirement account values as of December 31. Among the services it provides are DC, defined benefit and nonqualified deferred compensation recordkeeping, administrative services, investment management, employee education and communications and trustee services, as well as a variety of products and strategies that include institutional investment and income products, pension risk transfer
solutions and structured settlement services.
Originally posted on BenefitsPro.com